Performance

In line with our commitment to best-practice portfolio management, we benchmark our performance globally.

This section contains detailed information on the Fund's performance across a range of areas including investment performance, cost control, best practice standards for the management of sovereign wealth funds, responsible investment and transparency.

We compare the performance of the Fund to a passive Reference Portfolio benchmark, in order to measure the value we have added through active investment

We also compare the performance of the Fund to 90-day Treasury Bills as a measure of the 'opportunity cost' to the Government of contributing capital to the Fund, instead of using the money to retire debt.

It is our expectation, given our long-term mandate and risk appetite, that we will return at least the Treasury Bill return + 2.7% p.a. over any 20-year moving average period.

So that stakeholders can have access to up-to-date information about the Fund's size and returns, we report on our investment performance against our Reference Portfolio and Treasury Bill benchmarks monthly. However, because the Fund is a long-term one, and heavily weighted to growth investments, monthly returns can be volatile. Short term results need to be understood in this context.

Awards

The Guardians has won a number of international and domestic awards in recent years, with particular highlights...